Meta Platforms, Inc. (NASDAQ:META) Shares Sold by CFO4Life Group LLC

CFO4Life Group LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,168 shares of the social networking company’s stock after selling 86 shares during the quarter. Meta Platforms comprises approximately 0.6% of CFO4Life Group LLC’s investment portfolio, making the stock its 29th largest holding. CFO4Life Group LLC’s holdings in Meta Platforms were worth $3,481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Raleigh Capital Management Inc. boosted its position in Meta Platforms by 180.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock worth $271,000 after purchasing an additional 580 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its position in Meta Platforms by 7.6% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 5,860 shares of the social networking company’s stock worth $2,074,000 after purchasing an additional 413 shares in the last quarter. CGN Advisors LLC boosted its position in Meta Platforms by 153.2% in the 4th quarter. CGN Advisors LLC now owns 5,756 shares of the social networking company’s stock worth $2,037,000 after purchasing an additional 3,483 shares in the last quarter. Capital Investment Advisors LLC boosted its position in Meta Platforms by 46.5% in the 4th quarter. Capital Investment Advisors LLC now owns 11,786 shares of the social networking company’s stock worth $4,172,000 after purchasing an additional 3,742 shares in the last quarter. Finally, Montecito Bank & Trust boosted its position in Meta Platforms by 3.7% in the 4th quarter. Montecito Bank & Trust now owns 3,634 shares of the social networking company’s stock worth $1,286,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on META shares. Stifel Nicolaus upped their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. The Goldman Sachs Group decreased their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Jefferies Financial Group decreased their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $515.64.

Meta Platforms Stock Performance

Shares of META opened at $498.87 on Friday. The stock has a 50-day simple moving average of $492.56 and a 200-day simple moving average of $466.00. The stock has a market capitalization of $1.27 trillion, a PE ratio of 28.65, a PEG ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, analysts predict that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares in the company, valued at $19,724,113. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares in the company, valued at approximately $19,724,113. The disclosure for this sale can be found here. Insiders sold a total of 294,278 shares of company stock worth $146,060,559 over the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.